Xinjiang Communications Construction Forms JV to Acquire 49% Stake in Construction Firm

MT Newswires Live2025-03-13

Xinjiang Communications Construction (SHE:002941) and Xinjiang Road Bridge Construction Group have jointly acquired a 49% stake in Hami Hengrui Construction Engineering, according to a Tuesday filing with the Shennzhen bourse.

The acquisition, approved by the board on March 11, involves Xinjiang Jiaojian purchasing a 15% stake using its own funds. The deal requires full capital contribution by January 31, 2029.

This transaction is classified as a related-party investment under Shenzhen Stock Exchange regulations.

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